5/11, 3:21 PM (Source: TeleTrader)
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Oil extends gains, WTI up over 4%

The prices of crude oil futures extended gains on Wednesday, as investors' concerns seemingly rose over the European Union's pending decision on the Russian oil embargo, which would lower global crude supplies.

Meanwhile, worries over the demand seem to have subdued as the COVID cases in China decreased.

West Texas Intermediate (WTI) for deliveries in June increased 4.24% at 9:11 am ET to sell for $103.99 per barrel. Brent for settlements in July gained 3.54% to go for $106.15 per barrel a minute later.

Baha Breaking News (BBN) / AY